Gauzy, the Israeli material science and nanotechnology start-up, recently completed a third round of funding, $7 million from funds in the US and Asia led by American Fund Lazarus.
In its previous round, the company raised $5 million from UK investment fund Sollange Investments.
Gauzy developed liquid crystal glass laminates that create smart glass for a variety of markets including construction, automotive and consumer electronics, anything from elevators to refrigerators.
Gauzy was recently selected by Mercedes-Benz (Daimler) to participate in the Startup Accelerator Autobahn Plug And Play, which aims to apply innovative technologies to the automotive industry.
Gauzy was the first to be chosen out of hundreds of startups across the globe that applied and has already presented an innovative prototype together with Mercedes.
This investment will be used to double its R&D and sales and marketing activities worldwide. Its customers include: Mercedes-Benz, at&t, Porsche, The Ritz Carlton, Crowne Plaza, Westfield, Fendi.
In 2016, the global Crowne Plaza chain chose Gauzy’s technology for its flagship hotel at Singapore Airport amounting to several millions of dollars.
Eyal Peso, CEO and Co-Founder of Gauzy said, “We’re pleased to announce that Lazarus, Olive Tree VC and Waade Capital have now joined Gauzy, and I’m convinced that together we’ll continue to lead the company onwards. Thank you from the bottom of our hearts for the trust and recognition, there’s no bigger compliment. Archimedes said, give me a place to stand and I will move the world. This investment is a solid foundation.”
Gauzy recently inaugurated a state-of-the-art production line in Israel and offices in Los Angeles, Dallas and Stuttgart.